In Pakistan, people don’t have an abundance of car companies. There are only three major companies that are assembling cars in Pakistan and these are Toyota, Honda, and Suzuki. Unlike other countries have multiple options for consumers to buy a car. Pakistan is still trying to grow its investment in the automotive industry to facilitate the consumers of Pakistan. For this cause, Lucky Motors Ltd and France’s Groupe PSA signed an Expression of interest (EOI) and a Memorandum of understating (MOU).
Under these agreements, LML will produce, promote, disseminate and sell PSA Groupe cars and other commercial vehicles in Pakistan. Lucky Motors decided to manufacture the vehicles at their plant Bin Qasim Industrial park.
The CEO of LML, Asif Rizvi while addressing the media told that this Partnership will bring a drastic change in the automotive industry. He also said that other necessary parts of the agreement will be signing in the coming one to two months.
The CEO expresses the ideas as
“Initially, we have decided to assemble Peugeot cars which will be the first European car to arrive in the CKD category in the country. The new project involves an investment of about $15 million in jigs and fixtures and facility since the LML plant will be used for assembly of the European cars”.
This project involves millions of dollars in investment. The introduction of European cars gives consumers a wide range of options for buying automobiles in the industry.
